STI falls 0.9%, tracking regional peers
All the STI constituents were in the red
[SINGAPORE] Singapore stocks ended lower on Tuesday (Nov 18), tracking regional losses.
The benchmark Straits Times Index (STI) lost 0.9 per cent or 38.92 points to finish at 4,504.67. Meanwhile, the iEdge Singapore Next 50 Index gained 0.2 per cent or 2.46 points to close at 1,453.26.
Across the broader market, gainers trailed losers 171 to 429, after 1.3 billion securities worth S$1.7 billion changed hands.
Key regional indices were in the red. Hong Kong’s Hang Seng Index fell 1.7 per cent, Japan’s Nikkei 225 lost 3.2 per cent, South Korea’s Kospi declined 3.3 per cent and the FTSE Bursa Malaysia KLCI shed 0.8 per cent.
All the STI constituents were in the red.
The worst performer among the STI counters was Yangzijiang Shipbuilding , which lost 4.7 per cent or S$0.16 to close at S$3.26.
The second-worst performer was Jardine Matheson Holdings , which fell 3.3 per cent or US$2.18 to close at US$63.02.
The local banks all ended lower. DBS lost 0.6 per cent to finish at S$53.68, OCBC fell 0.8 per cent to S$18.25, and UOB was down 0.1 per cent at S$34.03.
Labelling it as a “broad liquidation event”, Neil Wilson, UK investor strategist at Saxo Markets, noted that European and Asian equity markets are falling as economic worries and macro headwinds develop.
He added that various market pressures such as artificial intelligence (AI) stress and the worry of the US Federal Reserve potentially not cutting rates in December are all “coming to the fore this week”.
Nvidia earnings created a bit of a cliff edge for sentiment towards AI in light of recent selling, he said.
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